Corn futures closed the Monday session with most contacts 3 to 4 cents in the red. The USDA reported that 1.505 MMT of corn was inspected for export during the week of 4/12. That was down 22.45% from last week’s MY high but 12.41% larger than this time last year. This afternoon’s USDA Crop Progress report showed that US corn planting progress only picked up 1% from last week at 3% planted on Sunday. That was shy of expectations, with last year’s pace running 6% and the multi-year average at 5% complete for this date. Iowa, Illinois, and Indiana were still at 0% planted, with their averages usually showing some progress by this point.

May 18 Corn closed at $3.82 1/2, down 3 3/4 cents,

Jul 18 Corn closed at $3.91, down 3 1/2 cents,

Sep 18 Corn closed at $3.98 1/4, down 3 1/4 cents

Dec 18 Corn closed at $4.07 1/4, down 3 1/2 cents

Market Commentary provided by:

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